EU imposes $1.9 billion fine on screen producers

BRUSSELS (AP) — The European Union on Wednesday imposed its biggest ever cartel fine of almost €1.47 billion ($1.96 billion) on seven companies for fixing the market of television and computer monitor tubes.

The EU's Commission ruled that, for a decade ending in 2006, the companies — including Philips, LG Electronics and Panasonic — artificially set prices, shared markets and restricted their output at the expense of the consumer.